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Real Estate Prices & Overview

Colchester Lakewood / Lakewood Pointe Estates median real estate price is $411,009, which is more expensive than 87.4% of the neighborhoods in Iowa and 54.7% of the neighborhoods in the U.S.

The average rental price in Colchester Lakewood / Lakewood Pointe Estates is currently $1,302, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 62.0% of the neighborhoods in Iowa.

Colchester Lakewood / Lakewood Pointe Estates is a rural neighborhood (based on population density) located in Norwalk, Iowa.

Colchester Lakewood / Lakewood Pointe Estates real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Colchester Lakewood / Lakewood Pointe Estates neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Real estate vacancies in Colchester Lakewood / Lakewood Pointe Estates are 3.2%, which is lower than one will find in 78.8% of American neighborhoods. Demand for real estate in Colchester Lakewood / Lakewood Pointe Estates is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

The Colchester Lakewood / Lakewood Pointe Estates neighborhood is considered a solid choice for executive lifestyles. NeighborhoodScout's analysis ranks it as better than 90.6% of Iowa neighborhoods for executive living, based on the wealthy, educated professionals, executives, and managers who choose to reside here, the spacious homes that are prominent features of the real estate in the neighborhood, and the high real estate appreciation rates found here relative to other neighborhoods in the state.

Diversity

Did you know that the Colchester Lakewood / Lakewood Pointe Estates neighborhood has more German and Norwegian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 36.5% of this neighborhood's residents have German ancestry and 6.0% have Norwegian ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Colchester Lakewood / Lakewood Pointe Estates neighborhood in Norwalk are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 70.6% of the neighborhoods in America. In addition, 0.7% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 79.7% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Colchester Lakewood / Lakewood Pointe Estates neighborhood, 48.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 19.6% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.9%), and 12.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Colchester Lakewood / Lakewood Pointe Estates neighborhood is English, spoken by 99.3% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Colchester Lakewood / Lakewood Pointe Estates neighborhood in Norwalk, IA, residents most commonly identify their ethnicity or ancestry as German (36.5%). There are also a number of people of Irish ancestry (13.6%), and residents who report English roots (11.4%), and some of the residents are also of Norwegian ancestry (6.0%), along with some Italian ancestry residents (5.2%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Colchester Lakewood / Lakewood Pointe Estates neighborhood spend between 15 and 30 minutes commuting one-way to work (57.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (80.1%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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